The global cart abandonment rate for the first quarter of 2017 is 75,6%. The reasons that contribute to this problem include slow websites, extra costs, and the requirement to create an account in the e-shop, according to Fullestop.
Car abandonment is one of the greatest concerns of eCommerce businesses, as many shoppers add items into their online shopping carts but never finish the purchase processes. A new research from Fullestop shows that more than three quarters of all carts are abandoned by customers, resulting in about $4 trillion worth of merchandise being abandoned every year. 52% of abandonments happen on mobile devices.
The major reasons for cart abandonment include:
- slow websites (75%),
- shipping, tax and extra such costs (61%),
- compulsory to create an account (35%),
- complicated checkout process (27%),
- problem in calculating total order cost (24%),
- website crashed (22%).
The most affected industries include finance (where abandonment rate is 83,6%), non profit (83,1%), travel (81,7%), retail (72,8%), fashion (68,3%), and gaming (64,2%).
However, Fullestop suggests that 63% of the abandoned carts could be easily recovered. Some of the recommendations include offering free shipping (93% of customers get ready to spend more when offered free delivery), eliminating surprise costs, preventing errors on websites, following customer up with an email, and offering various payment modes. Stores should never force customers to register, or complicate the checkout process.